Initial Appraised Value definition

Initial Appraised Value means, with respect to a Railcar, the appraised value of such Railcar as determined in the Appraisal delivered in connection with the Conveyance thereof to the Issuer.

Initial Appraised Value means, with respect to each Aircraft, the “Initial Appraised Value” set forth on Schedule 3 of this Intercreditor Agreement and, in the case of any Substitute Aircraft, the Base Value established by the Appraiser for such Substitute Aircraft as of a date not more than six months prior to the date of the delivery of such Substitute Aircraft.

Initial Appraised Value means, with respect to a mortgage loan, the appraised value of the applicable residential property used by such mortgage loan’s originator in connection with the origination of such mortgage loan.Substitute Assets may not be added to the Cover Pool if, immediately following such addition, the Cover Pool would not comply with the requirement of Article 19(3) of the Covered Bonds Communiqué that the net present value of the Substitute Assets included in the Cover Pool shall not exceed 15% of the total Net Present Value of the Cover Pool (the “Substitute Asset Limit”) (disregarding, for these purposes, Mandatory Excess Cover Cover Pool Assets (which are not subject to the restriction contained in Article 19(3) of the Covered Bonds Communiqué and, accordingly, do not count towards the Substitute Asset Limit)).Monitoring of the Cover Pool .......... The Cover Monitor shall, pursuant to the Cover Monitor Agreement, inrespect of each Cover Monitor Calculation Date analyse and verify whether the Cover Pool satisfies each of the tests related to the Cover Pool as required by the Covered Bonds Communiqué, being (as of the date of this Base Prospectus) each of:

Examples of Initial Appraised Value in a sentence

• If the two Initial Appraised Values differ from each other by 10% or less (based on the lower Initial Appraised Value), then the Fair Market Value of such Units shall be deemed to be the average of such Initial Appraised Values.

• If the two Initial Appraised Values differ from each other by more than 10% (based on the lower Initial Appraised Value), then the two initial Appraisers shall, within five (5) Business Days following such calculation, jointly select a third Appraiser.

• Schedule 4.01 contains a true and complete list of all Aircraft Assets, the Initial Appraised Value of each Aircraft and the Person within AerCo Group that owns directly or indirectly such Aircraft Asset (or, in the case of the Offering Memorandum Aircraft, the AerFi company whose stock is contemplated by the Offering Memorandum to be acquired by AerCo on or following the Closing Date and which has contracted to acquire such Offering Memorandum Aircraft), in each case as of the date hereof.

• If the Post-Recovery Event Appraised Value set forth in such Recovery Event Appraisal is equal to or greater than the Initial Appraised Value, no further action by the Borrower shall be necessary under this clause (c).

• The following assumptions have been made in respect of the SW Transaction and the NP Transaction: • Regal REIT acquired the Sheung Wan Hotel and North Point Hotel on 31 December 2012 and no Current Assets Adjustments were made; and • The fair values of the Sheung Wan Hotel and the North Point Hotel as at 31 December 2012 are HK$1,580 million (being the SW Appraised Value) and HK$1,650 million (being the NP Initial Appraised Value), respectively.

More Definitions of Initial Appraised Value

Initial Appraised Value means, with respect to any Pool Aircraft as of any Release Date, the initial value of such Pool Aircraft, calculated by taking the lesser of the average and the median of the three initial Appraisals conducted with respect to such Pool Aircraft prior to the Effective Date (or, in the case of any Pool Aircraft not included in the original Designated Pool, the three initial Appraisals conducted with respect to such Pool Aircraft pursuant to Section 2.10).

Initial Appraised Value means the appraised value determined on a cash flow basis (and, to the extent expressed in a range, using the midpoint of such range) of all of the Core Assets as set forth in the Funds Availability Date Appraisal.

Initial Appraised Value means (a) in the case of each ACS Group Initial Aircraft (other than a Substitute Aircraft), the lessor of the mean and the median of the appraisals by each of the Initial Appraisers of the Base Value of such ACS Group Initial Aircraft as of the Initial Appraisal Dates, (b) in the case of any Substitute Aircraft, the average of the appraisals by each of the Initial Appraisers of the Base Value of such ACS Group Initial Aircraft as of a date not more than six months prior to the date of the delivery of such ACS Group Initial Aircraft and (c) in the case of any ACS Group Additional Aircraft, the average of the appraisals by each of the Appraisers of the Base Value of such ACS Group Additional Aircraft as of a date not more than six months prior to the Closing Date for the issuance of the relevant ACS Group Additional Securities.

Initial Appraised Value means (i) for all the Initial Aircraft in aggregate, $817,814,000.00 and, for each Initial Aircraft, means the dollar amount specified opposite such Aircraft on Schedule 4.01 hereto, (ii) for all the Offering Memorandum Aircraft in aggregate, $724,053,000.00 and, for each Offering Memorandum Aircraft, means the dollar amount specified opposite such Aircraft on Schedule 4.01 hereto and (iii) for the Additional Aircraft, the "Initial Appraised Value" of such Additional Aircraft as such term is defined in the Indenture.

Initial Appraised Value means the Appraised Value of an Aircraft calculated in accordance with the valuations provided prior to the Utilisation Date in accordance with sub-paragraph (xxiii) of paragraph 1 of Schedule 2 (Conditions Precedent) and delivered by the Borrower (or any member of the Group on behalf of the Borrower) to the Agent.

Initial Appraised Value means (a) in the case of each Initial Asset (other than a Substitute Asset), the average of the Maintenance Adjusted Base Values in respect of such Initial Asset rendered by each of the initial Appraisers as of the fourth quarter of 2019, in the case of Avitas, Inc., and December 2019, in the case of IBA Group Limited and Xxxxxx Xxxxx & Xxxxx, Inc., (b) in the case of any Substitute Asset, the average of the Maintenance Adjusted Base Values in respect of such Substitute Asset rendered by each of the initial Appraisers as of a date occurring during the period from October 1, 2019 to the date such Substitute Asset is acquired by the Issuer and (c) in the case of any Replacement Asset, the average of the Maintenance Adjusted Base Values in respect of such Replacement Asset rendered by three of the Appraisers as of a date not more than six months prior to the date of the acquisition of such Asset, provided, in each case, that the second proviso in the definition of “Adjusted Base Value” shall apply with respect to determining the Initial Appraised Value of any Airframe.

Initial Appraised Value means, with respect to a Railcar, the appraised value of such Railcar as determined in the Appraisal delivered in connection with the Conveyance thereof to the Issuer; provided that, with respect to the Initial Notes, the Initial Appraised Value is the arithmetic mean of the two Appraisals of the Portfolio Railcars (as of the Initial Closing Date), obtained from RailSolutions, Inc. and Xxxxxx X. Xxxxx III, LLC (d/b/a Xxxxx Appraisal) prior to the Initial Closing Date.